“Adjusting minimum wages for inflation is a necessary yet modest step toward protecting affordability for low-wage workers: The case of California’s Fast-Food Council,” Economic Policy Institute Modern labor markets—particularly those that low-wage workers participate in—are characterized by significant employer power. Low-wage employers rarely if ever negotiate pay with workers, instead posting take-it-or-leave-it wage offers. Further, […]
– by New Deal democrat While there isn’t any big economic news today, there certainly was action overnight in response to the latest TACO. As I type this, oil is back down to $90/barrel, and stock futures are soaring. This for something (correctly I think) framed as a “fragile cease fire” by J.D. Vance. But […]
Phillips P. O’Brien tries to convey the enormity of Trump’s failure in Iran. His bottom line: This is no run of the mill TACO. This is complete US strategic failure. Read the whole thing. The Iranian regime may end up with a stronger hold on power, unfettered access to enriched uranium, and massive revenue from […]
The argument? There really is not an argument. Why? Opponents to the Trump initiative, offer up a century of precedent. One being the United States v. Wong Kim Ark (1898). The decision confirms birthright citizenship applies to almost all children born on U.S. soil, regardless of parental status. Uniformly, courts blocked the Trump administration from implementing […]
Just a few thoughts and then Professor Heather will bring us to the reality of this administration. I did watch the D.C. TV series as a kid. Fake raccoon skin caps were a hot item. We did not have one and other kids did. If I remember correctly, Disney had some episodes about Mr. Crockett […]
Erica York from the Tax Foundation . . . Compared to what? The last week brought several retrospective analyses of President Trump’s first year of reciprocal tariffs, ranging from victory laps to selective trendline comparison to careful examination of what’s been learned. It will take much longer to empirically estimate how the rapidly changing tariff environment is impacting an economy that is also subject to other […]
There’s a whiff of 2008 in the air. “Private Credit and the New World of Financial Risk,” Paul Krugman On July 15, 2007, the New York Times published an article titled “The richest of the rich, proud of a new Gilded Age.” The article was centered on a profile of Sanford Weill, CEO of Citigroup, who, like […]
– by New Deal democrat As I’ve previously noted a number of times, one of the more surprising developments in the past few months has been the resilience of manufacturing. After taking a beating following “Liberation Day” one year ago, companies adapted and resumed production if anything at an even more brisk pace. That was apparent […]
Many nations rely on tourism especially from the United States. When the exchange rate changes, tourism decreases.. Some Calculations to Convert to ~ U.S. Dollar Cost Cost of Diesel in the United States? $5.401/Gallon Aren’t you glad we have cheaper diesel? As a result of increasing costs for diesel fuel, Thais are changing travel plans […]
Some stories about Student Loans. In the past, I have written about student loans. If in the end, you can pay them off with little delay, you are golden. The problems arise when a student can not find a decent paying job. It becomes a matter of what do I have for dinner as there […]